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tv   Countdown to the Closing Bell With Liz Claman  FOX Business  December 6, 2016 3:00pm-4:01pm EST

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50,000 jobs. president obama is going to be arriving in florida today, he's expected to thank some of the country's special operations forces and deliver his last national security speech while in office. it's all going to happen in just about 30 minutes from now. so stay tuned for that. liz will have it. liz: wait until you see this, trish. breaking news, as you just mentioned moments ago, president-elect trump announcing this massive plan to create thousands of jobs. he stood right next to softbank founder and ceo masayoshi son announcing he secured $50 million in businesses and 50,000 jobs that relate to mr. son. two stocks spiking on the news we're about to show those to you in a few seconds. this is donald trump's second surprise business move of the day. trump slammed boeing's $4 million for air force one calling it, quote, out of control. this is the search for the
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highly coveted spot for secretary of state continues coming through the door into the golden elevator, the biggest one of them all ceo of exxonmobil who went around the back way quietly meeting with the president-elect. with us live the trump insider fresh off his own meeting at trump tower, in his first meeting since the interview, richard grunel gives us a sneak peek what happens when you get off the golden elevator and what donald trump is looking for in his next secretary of state? boy, did we hear from this man when he called the trump administration disastrous, what they now say will send the markets into a frenzy. with me live straight ahead. the russell 2000 hitting a lifetime high as the dow viciously fights for 20th record close of the year. folks, anything can happen.
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we're less than an hour to the closing bell. lots of breaking news, let's start the "countdown." breaking news, two major stocks popping at this moment on the news we told you about. look at sprint. along with t-mobile. i looked at it, it was up nearly 4%, now up 5.63%. t-mobile jumping 2.5%. why? the chairman of sprint who is the ceo of softbank masayoshi son inteek donald trump. the president-elect could pop out at any moment, heading to north carolina, we'll take the shot any moment that we see him. as you can tell, a lot is happening with the last seven minutes, we are not just keeping a close eye on the elevator but the russell 2000.
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new lifetime highs this afternoon, on pace for a record close. the number you need to watch, 1347.20. we're above it at the moment, it would be the tenth record close since election day for the russell. let's get to things that aren't doing as well. the woes for chipotle, not over yet. the popular mexican chain is down 8% following comments made by steve ellis at investment conference. saying that the company is nervous about hitting guidance and considering menu increases. price increases next year. ellis said he expects to make an announcement shortly about new board members following bill ackman taking a nearly 10% stake in the company. and one day after our "countdown" closer in the show, michael binger recommended you buy verizon, it's a big leader on the dow. the telecom giant jumping 1.5%, why? it came out with the news it
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would sell 29 data centers for an all-cash deal. that is lifting other telecom and media boats, frontier communications has an attractive dividend. at&t, charter, seeing significant gains today. frontier up 2.5%. let me get to this, crowds of air force members are waiting to greet president obama at macdill air force base in florida. you're looking at the podium where the president will speak. he's expected to speak with the troops at any moment before finally make final foreign policy speech his administration. but while the president probably wants a lot of attention paid to that speech, it's his mode of transportation that's in focus, thanks to this, the president-elect taking aim at air force one, the plane. an incoming verbal assault in the form of this tweet --
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from real donald trump. boeing stock reacted immediately. we put up the intra-day, it's come up off the floor. just after that tweet came out, it fell about 1.1% on the news, it is currently down just a fraction of a percent, but damage was definitely done. we thought let's bring in kevin corke with the latest on the fallout from the president-elect's comments about the plane and its manufacturer, kevin? >> reporter: good afternoon to you. we're talking about replacing a pair of 747-200s with a pair of modified 747-8s. the government and the air force made deals with boeing back in january and in july in which boeing agreed to certain design aspects of the new aircraft. talking about the interior, the electrical, the power and the maintenance systems, but there's a lot more to the
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story, it's about as you pointed out aptly, dollars and cents. gao, the government accountability office estimated in march the entire cost would be $3.2 billion from 2010 through 2020, that includes 2 billion for research and development, that's too steep a price for the president-elect. >> the plane is totally out of control. it's going to be over $4 billion for air force one program, and i think it's ridiculous. i think boeing is doing a little bit of a number. we want boeing to make a lot of money, not that much money. >> reporter: all right, what does boeing have to say about that? it says in part -- and obviously josh earnest, the white house press secretary echoing that today in the
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gaggle aboard air force one on his way down to florida with the president. he said listen, you all know as members of the press the unique capabilities but challenges you have in riding aboard the presidential aircraft, and he was hopeful that eventually all sides could come together, liz, and agree this is a project worth taking on. the big question remains, what price? liz: like the play on words. thank you so much, kevin corke. the trump transition team is telling fox business that the president-elect emptied his portfolio of all stocks in june including boeing. we know that he once owned between 50 and 100 shares. his public attack on the publicly traded company wouldn't be a personal benefit because he sold before the stock moved higher and fell today, but just as trump tooketh this weekend, it's
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supposed to taketh, he has given to sprint and t-mobile. charlie gasparino was talking about this yesterday, now it's almost exploded in magnitude. >> you and i amazingly enough yesterday were talking about when is the last time a president was going out there and having a material impact on stocks based on -- liz: individual stocks. >> presidents have gone after industries, obama went after the coal industry. liz: he went after privatized prisons. >> i don't remember a president going after individual stocks. the business reporter in me loves this, this is going to be a theme throughout, i believe, his administration so, as investors you have to watch fox business to figure out what's going on here, but as we said, he took market cap away from boeing, it's coming back a little bit, but there might be a billion dollars worth of market cap that got whacked out of this company when trump attacked it, saying he's going to canceled orders.
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the orders in and of itself aren't the reason it's going down. when you have the president of the united states putting a black mark on you and you're boeing, traders get scared. today, saying good things about softbank reverberates into other stocks. >> be clear, softbank and masayoshi son are the major owner of sprint. sprint's attempted merger of t-mobile rejected by the obama administration's fcc and department of justice. look at sprint right now. up nearly 5%, just a second ago it was up -- >> how about t-mobile? liz: it is also up 2%. >> this is fascinateing. >> people believe it would be a friendlier attempt at a merger. >> the united states is incredibly powerful when it comes to deals like this. he appoints the head of the fcc, jeff sessions is going to be head of the justice department. chee control this deal, this is going to be a huge story going
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forward. i will say this, liz, the business reporter in me loves this, this is realtime, there is going to be algorithms that are going to be following donald trump's tweets, which i'm sure there are already. liz: people are putting in all kinds of things like caller. >> we're heading into interesting uncharted territory. he knows what he's doing here. liz: let me ask you about t-mobile, then, do you think you have the algorithms or high-frequency traders putting in buy and sell programs because -- >> sure, the stock is going to go up. that doesn't mean it deserves to go up. i believe it's a reactive thing, it's good to have the exxonmobil ceo as secretary of state. we'll see what happens. that is a little more amorphous than him going after the
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company, what he did with rexinord. is that it? liz: rexinord. >> it is appropriate for companies. liz: united technologies which is the owner of carrier. >> that was different. they cut a deal and he said this is what we're doing. liz: this is the chart. >> he attacked the stock, he knew hisweet would have material impact on the stock and he went after it, and it's almost extortion. liz: he doesn't own the stock, be fair, he doesn't own the stock. >> he's not extorting political value out of this. liz: has the sec set a precedent, has someone been busted for this? >> no, but it's gray, according to everybody. not that i know of. it's gray according to everybody i speak to, to basically get a material gain by manipulating a stock down might violate securities laws. by the way, just so you know, once he becomes president, he
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has a degree of immunity for this stuff, you probably can't theoretically go after him, but as president-elect, which he is right now, he's fair game, just so you know. liz: and by the way, t-mobile is up more than 2.5%. could it be a brand-new reinvigorated target of sprint which is owned by masayoshi son. >> we're going to be reporting this realtime every day, this guy is going to be moving markets and stocks. >> and fox business and you have done that brilliantly, that's why our viewers, especially the faithful once, you know who you are, are in the right place and business brings us to carry cohn of goldman sachs who has been seen at trump tower? >> numerous times. maybe there is a reason to buy goldman sachs stock, don't do it on my word. gary cohn is the longtime number two of lloyd blankfein
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at goldman sachs and itches for the top job. he is rumored to be trump energy secretary or head of the omb, i understand from people, he and trump got along very well. trump, quote, unquote loved him. this is coming from friends of gary cohn, gary cohn has threatened to leave goldman sachs up until a couple of years ago. this is a reoccurring theme. he wants to be ceo. friends are saying he's telling them he wants out. he's likely to leave. i can't give you any timetable. for all i know, tomorrow he's going to say i want to stay. great job, travel around the world, make a lot of money. he's telling people he's got one foot out the door and would like to work for the administration. the two places i hear, maybe something else, the two names i hear, omb, energy department,
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remember he was a commodities trader. liz: we're going to keep our eye on sprint, it is spiking. other things that are moving, not necessarily in that direction with the closing bell 48 minutes away, nike, the biggest drag on the dow 30. right there. cisco second worst, right now nike because cohn cut rating of the sportswear giant to market perform over worries nike can't do it with stiff competition with the likes of adidas and under armour which just signed to do all the uniforms for major league baseball. and to netflix, extending the blood line, the online streaming giant investing $6 billion on more than a thousand hours of original programming for 2017. unlike nike, the competition is no threat to netflix, according to an upgrade from a sell to a hold and $10 increase on the price target.
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netflix up $5.11. to $124.34. up next, the floor show, and the man who warned the trump economy would be disastrous. he did it right here on fox business. you guys, boy, did we hear from you. you hated what he said! bill gross, let's bring him back, he's got new news on his position. is he standing pat, changing or doubling down? he joins us on "countdown". don't go away. generosity is its own form of power.
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finally you can now find all of netflix in the same place as all your other entertainment. on xfinity x1. . liz: folks, there is no shortage of action on wall street at this very moment. look at the dow first, we are in record territory, could be the 20th record close of the year, but i want to let you know and this happened in the last hour yesterday during this show, we got that record, but we lost a lot of the gains. high of the session, up 25. right now up 11. touch and go here, in record territory. the russell 2000 looking at tenth record of the year, actually the tenth since election day. can anything derail the run-up in stocks. let's get to the floor show. hi, john, records today? all?
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none, one of them? >> russell obviously is going to stay there, and we continue to see the trend as the market moving higher. the one thing i would like to see more of is more volume. not enough volume on the tape to show there is real investor into the market. we saw a lot of i.m. after the election, to be expected. next week we have december 14th, big fed announcement. everyone is forced to not do anything at this point. no one is going to make a significant be the market is going to go. not knowing exactly how the 14th is going to play out or the effects of that day. liz: the reason we're showing one month charts is they encompas election day. anyone who didn't capitalize on this. money managers included. who could have foreseen, polls said trump wouldn't win. once you saw he won, you see
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there was a real opportunity here, todd colvin, are you seeing flows continue or doubt coming into people's minds or the volatility or fear index is at a three-month low which shows people aren't that nervous, but do you see people too tentative when they shouldn't be possible or vice versa? maybe this is a high for a recent time. >> the market is driven by two forces, fear and greed, greed is driven by change, there is no reason to dump your stocks yet, especially with the trend that we're seeing. likewise, the fed meeting next week, boe meeting next week, ecb meeting, you think there might be a hiccup in volatility. i say stay the course in equities, you're going to have a big surge in january as well when the tax holiday comes in, in late january or early february. this is preemptive buying and staying the course ahead of the events. liz: again a lot of events, i'd
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be remiss if i didn't mention but names like sprint and t-mobile are spiking because the president-elect has been inserting himself or making comments that tend to move these names john corpina and come as a surprise for people. boeing was hammered early in the session, coming back right now. what do the traders think of that on the floor? so interested to know how they perceive anything like that? >> i don't think we've had a president that infused himself so much in the -- in wall street and individual stocks, knowing he's going to have such a significant effect on it, let alone tweets and any comments is going to make a movement in any of these stocks. i think what we're conditioned to over a short period of time is letting the comments digest and see how stocks react before acting on it. some of the stocks quickly come back where they should be. at this point, right now, we are clearly watching everything
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that president-elect trump says but have to make sure we're not overreacting to it. liz: for better or worse, he's moved equities, elliott, i'm wondering if the same applies to commodities, oil at the nymex, which is what you watch. he's had rex tillerson, the ceo of exxonmobil inside trump tower. oil is pulling back today. we can look at it for the moment, snaps a four-day win streak here. is it more opec or could the president-elect have the president for better or worse of moving an entire commodity? >> well, you know what, liz, there's a bunch of things we have to look at. there is a humongous glut, right? we see the spike in price because of the opec thing. i have spoken to you on this topic about crediting the president with the rally in the stock market, i would say for crude, screwed more driven by market forces, right?
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i would say beware of hedge fund guys saying crude is going to rally, they could be talking up their book. liz: is that the truth. >> it is the truth. i was here a month ago talking about crude, saying jokingly but i said crude $50 for the rest of our life. i don't see any reason to change that. i don't agree with $67 a barrel. liz: russia's output alone is at 30-year highs. as we watch all of this. too much excess when it comes to inventory. great to see all of you. good spirited discussion, john, todd, elliott, thank you very much. >> thanks liz. liz: any time, you know i love you guys. the dow industrials in record territory, up 12 points. john corpina said it might not hold. russell at a record. tweeting terror, the heinous video that outraged millions online of people being marched to their death. proudly tweeted out by
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nefarious forces. now tech titans say they're joining forces to make sure that never happens again. their plan to target terrorist propaganda coming up. and donald trump just in the last 30 minutes wrapped his arms around big business in what some say could be a good or bad way. we're going to tell you what it all means straight ahead as he put his arm around the chairman of sprint and the head of softbank. blake burman saw it all, videotaped it all. he's live from trump tower where mr. trump made the massive business announcement. it's moving stock as we told you. "countdown" coming right back. u. my insurance company definitely doesn't have that... you can leave worry behind when liberty stands with you™ liberty mutual insurance
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liz: tech titans, facebook, google, microsoft, and twitter are joining forces to curb explicit terror-related content on the internet. here is what happens. the companies say they are building new technology that will identify extremist material
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including recruitment videos and images of executions. it is a digital fingerprint known as hash, it will be attached to online content, sort of like a water mark, making illicit material easy to identify and more importantly, to remove. the project will be presented at the eu internet forum this thursday. looking at all stocks involved, they're down just slightly anywhere from a third to just under half a percent at the moment. the hug heard round the world. this just happened at trump tower. the president-elect just moments ago put his arm around softbank founder and ceo who had announced himself a massive plan involving a huge investment here in the u.s. to create 50,000 jobs. here in the u.s., 50 grand, 50,000 jobs, millions of dollars. this as trump is about to depart any moment as he embarks on second stop of his thank you tour. take to you fox business's blake burman.
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blake you witnesses all of this. did it stun you? you have to set the scene as it all played out. reporter: out of nowhere, this was a surprise, the president-elect came downstairs to the lobby at trump tower. he hasn't done this at all. this was the second time today he did it. first with boeing and then with this announcement. came down to the lobby of trump tower and stood shoulder to shoulder to announce this investment, $50 billion, to try to create 50,000 jobs. it was first started with a tweet. after the meeting, they came down, this was clearly a message president-elect trump. here he is side by side with the softbank ceo. >> ladies and gentlemen. this is masa of softbank of japan. he just agreed to invest $50 billion in the united states and 50,000 jobs. and he is one of the great men of industry. so i just want to thank you very
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much. >> thank you. reporter: now, after that, liz, i was able to speak with mr. san, i asked him how were those 50,000 jobs come about? is it direct hiring, how so? he said they will try to put 50 billion dollars in startup, creating 50,000 jobs. he painted picture of incoming trump administration the reason for this investment. he told me because of deregulation, he feels there will be energized sense of the economy as he put it to me, that is why they're making this investment. i point-blank asked him, i said, are you doing this because mr. trump is the incoming president of the united states? and he said to me yes, that is indeed the case. of course outstanding in all of this, can they create those 50,000 jobs? one thing i would note and leave you with, liz, the thank you tour, that mr. trump is calling. he is about to depart on that. last week there was carrier announcement and then thank you stop in ohio.
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now we have this announcement and thank you stop in north carolina. seems to be a little bit of planning potentially behind this one. liz? liz: he has been a producer, head of a tv show, we know that he knows how to produce these kinds of things. i want to let our viewers know the reason we have sprint on the screen because mr. san is the chairman of sprint. that stock spiked about 5 and 2/3% as soon as we saw the hugged. moderated a bit. still up 2 1/3%. why? because that company tried to make a merger with t-mobile but the fcc under president obama and department of justice said no, we don't like this merger. perhaps there is a belief there could be a merger. right now you see the stock on the move. you're in the perfect place. all of this intersects with the business world. keep it right here for special coverage of president-elect donald trump's thank you tour. today it is north carolina. lou dobbs has it all covered with a two-hour broadcast,
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7:00 to 9:00 p.m. eastern. kennedy at a special time immediately following "lou dobbs tonight." there's a lot of places you never want to see "$7.95." [ beep ] but you'll be glad to see it here. fidelity -- where smarter investors will always be. if only the signs were as obvious when you trade. fidelity's active trader pro can help you find smarter entry and exit points and can help protect your potential profits. fidelity -- where smarter investors will always be.
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liz: first on fox business, mystery and intrigue surrounding the head of america's largest oil company. unlike every other charactera c, exxonmobil ceo rex tillerson avoided public eye during his meeting with president-elect. that is why we're showing you file video. not video of him walking in. he went in a different entrance
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of the leader of america's biggest oil company used a private entrance to get into trump tower. is this a sign of shift in race for secretary of state? joining us in "first on fox business" interview, the man with inside scoop who attends the meetings at trump tower, including you, ric. former u.s. spokesman at united nations. you are on the trump transition team, at least advising them. does this give added oomph, to a name like rex tillerson that he was able to go in unviewed or sort of in the back way? >> what i love about this, this individual going in is that donald trump is really looking broadly at trying to figure out who is going to be america's top diplomat and there is a whole bunch of information that goes into that. he is exploring it. president-elect trump is looking at all angles. i think he is on a quest to figure out what are the right
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criteria for appointing the top diplomat. from my standpoint, i know many inside of the trump transition team are thinking about this, but, reforming the state department has got to be at the top of the list. the state department is desperate for reform. it has gotten way too bloated. it is a target-rich environment at this point. liz: i'm sure you see positives and negatives when it comes to mr. tillerson but when you look at the hot spots around the world, you talk about china, there is some concern there especially recently. we could mention what is going on with taiwan and china, but also the middle east is a hot spot. as it pertains to china, we heard jon huntsman, the former governor of utah, has been ambassador to china, he speaks fluent mandarin. he has the important skillset or for example, general petraeus, knows vagaries and different shades of gray when it comes to all drama in the middle east. i don't know, when you think of the world's biggest problems, those two guys on this pretty broad list seem to me they have
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more useful skillsets than rex tillerson. nothing wrong about him you about he had business deals with venezuela and russia. okay, but you know, what is donald trump looking for here? >> i think at this point he is talking to a whole bunch people to figure out what will be the best criteria for trying to pick america's top diplomat. we can't forget to talk about john bolton, who is my old boss, who is just phenomenal. he is loyalist. he is expert on variety of different issues. you've got rudy giuliani. i think that on his list, one of the reasons why it is taking so long we do have a lot of choices. the republican party has many people who would be great at secretary of state. liz: but,. >> eric: , did you just recommend john bolton? is he your top pick? i would love to know from you. you know these people? >> john bolton is absolutely my top pick. i know him, i know him to be
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workhorse and really honest and really loyal. i think he would be a phenomenal secretary of state. not only he will bring information to president-elect trump but at the end of the day, john bolton understands who the president is. he would absolutely implement the trump policies. liz: i have to ask you about taiwan because the president-elect did of course take congratulatory phone call from taiwan. i don't see anything wrong with it but i don't know all the moving pieces when it comes to diplomacy. we do know in the past we've seen things like the taiwan strait crisis, not one, not two, not three, when china perceived some slight. do you think right now, because donald trump took that congratulatory phone call from the president of taiwan, does not have good relations with china, that china right now is getting ready to do something, buzz taiwan with planes. >> no. liz: no, really? >> i don't think so. the chinese know that they had a phone call two weeks, more than
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two weeks before this congratulatory call. so the chinese phone call between president-elect trump and president xi, there was substantive call. it was early, it was first. this taiwan east call was just -- simple congratulatory call from a democratically elected leader. it is pretty simple. i get people make this a big deal. when you look at the facts, just simply says it was a congratulatory call. >> and i know that. we have no problem with a congratulatory call from a democratic nation like taiwan. good to see you you, rick. thank you so much. >> i get it has policy implications but i don't think it is that big. liz: ric grenell, former u.n. spokesman at the united nations of the first on fox business. thank you. >> thanks, liz. liz: 17 minutes away from commander-in-chief to negotiator in chief, dow hitting all-time record, 20th of the year.
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the president-elect using carrot-and-stick approach to keep carrier jobs here in the u.s., offering major tax breaks but so far no carrot on trump's promise to slap a 35% tariff on firms moving american jobs overseas. greater new york chamber of commerce ceo and president mark jaffe, what is he thinking about that? he is heading trait to our studio to tell us how businesses in the big apple are preparing for president trump. are they shaking in their shoes or are they excited? he will tell us coming up.
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letters in most cases. but as trump has gone after carrier in indiana, owned by united technologies and rexnord yesterday which makes ball bearings in wisconsin, and now boeing for all different reasons, done this since election night what does donald trump really mean for businesses in his home state? there are a lot here in new york. let's bring in mark jaffe. ceo and president of the greater new york chamber of commerce. you also worked with ivanka trump on her jewelry line, correct? >> correct. more small business but yes, that is the vital key component of american business. liz: the president-elect is new yorker, new york businesses are some of what we say in new york speak, which is yiddish, they're little nervous what they have seen. will he go after them next? >> compared with what we saw during the election we're seeing a more moderate donald trump. he is a new yorker. i think new york businesses will be very happy. postelection we see rebounds in
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the stock market. we see decrease in unemployment. things are looking good. megadeals happening now, keeping businesses and jobs here and in the united states is good for new york. liz: it is intervention though. i'm interested in the fact you said he is more moderate but yet piecemeal going after american businesses who plan or have moved jobs overseas or to mexico. what's moderate about that? >> well, he's more moderate than he was during the campaign. however going after jobs and money overseas, repatriating money and jobs here has always been on the agenda for every politician. the key how will he do it. he has unique communications brand. he tweets things out. liz: boeing? >> boeing fell because they lost a big contract. liz: you said lost a big contract. he says he would remove the contract. personally i think it is "art of
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the deal," and he is negotiating be that as it may, everything from pfizer to colgate, throwing things out here, ibm up in poughkeepsie, have you heard from them? you're with the chamber of commerce here in the state. >> i think the companies that you mentioned are not that scared after donald trump presidency. first of all he is new yorker. second of all, you're right, "art of the deal," he is a good negotiator. instead of spending $4 billion to refurbish, as he said perfectly good plane, we'll get a better deal for taxpayers. >> don't misread me. a bean counter we need to get rid of fraud, and waste and abuse. governor cuomo, all people actively aggressively supported hillary clinton if he is not nervous maybe businesses shouldn't be nervous, he said after the election, donald trump isn't a threat. he could be quote, a bonus when it comes to the state of new york when it comes to
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infrastructure project. >> governor cuomo is a smart man. exactly that. we've been talk about infrastructure, infrastructure projects used for years to generate the jobs for the economy. liz: could come here to new york. good to see you, thank you so much. mark jaffe the man at the chamber of commerce. you have the ear of a lot of businesses. hopefully they have yours. dow is up 28. russell in in record territory. we could see two records at the closing bell which is eight minutes away. last time bill gross was on, boy did we hear from you guys. his comments were the most clicked-on story from foxbusiness.com when he was on. here is one tweet i got to gross's pessimistic take on president-elect's economic plan. he is back. misspelled, we didn't want to change what bob wrote, but ready to tell us if he thinks the trump economy is still doomed. is he changing? there he is, bond king bill gross. he is next.
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liz: bill gross has a note he comes out with every week. a new one is out. he is taking long view on president-elect donald trump's agenda. here is quote from it. there is no doubt that many aspects of trump's agenda good for stocks and bad for bonds near term. tax cuts, deregulation, fiscal stimulus et cetera, but longer term investors must consider negatives of trump's anti-globalization ideas which may affect and negatively affect corporate profits. on tv he concludes "orange is the new black," but in the markets red in some cases may be the new green applied to future investment returns. be careful, stay out of jail. bill gross, fund manager, janus global bond fund. bill, last time we got a lot of tweets. people say, get him off. these are trump supporters. do you clearly feel the same
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are you doubling down on what you feel are dangers in the trump economy and why? >> no. i have always felt some aspects of trump's potential policies are stimulative for the economy. i've been dubious in terms of the extent and the level of positives potential treasury secretary looking for 4% growth. i think two plus. i think fiscal stimulus will help. there are negatives with anti-globalization trade types of of ideas and strong dollar. we know the dollar is strong. we know that is not a positive for exporting in terms of corporations. there is one certain negative thing that we've seen in the past two weeks but there are some positives too.
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dollar such since the election. manufacturing orders rear view looking up 2.7%. that is biggest increase in 1 1/2 years. dollar continues stronger against euro pound, canadian dollar, et cetera on your screen. we're told to buy low, sell high. one thing that is really low right now in your bailiwick is bonds. are there bonds you're buying? 24% in high yield, 24% in investment grade. what do you like here that isn't overpriced? >> well that, the prices are relatively low. yields are increasing and are higher than they used to be so that's good. the question becomes on 10-year treasury, what is the appropriate level of a 10-year treasury now at 2.4% if the fed starts to raise interest rates which they will next week, and continue and continues to raise
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fed funds next year because after stronger economy and rising inflation. ten-year is appropriately priced right now. red is negative sign as opposed to positive one. stocks, you know, which depend on growth and earnings and repatriation of money from overseas that will add perhaps, 2 or $300 billion of support to the stocks market next year, you know, there is more positives there but certainly from the bond side, even high yield bonds i think red is the new green. liz: we've got green on the screen as we finish up with you. russell and do you look to close in record territory. thus this concern you or excite you? >> record territory is always
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wonderful. [closing bell rings] it means prices have never been higher but there is a little bubblicious aspect to some of these things and i wonder. liz: when bond goo are you bill gross says bubblicious, that is good way to hand it over to melissa and connell for "after the bell." two records, the russell and the dow. we love that. connell: thank you. another record, that's right. you're not getting rid of me. melissa: it is all him. connell: asman is never coming back. i'm joking. he is coming back. s&p 500 was pretty close. it is trump rally and it rolls on. i'm connell mcshane in for david asman. melissa: there you go. i'm melissa francis. this is "after the bell." more on the big market movers but here is what else we have for you coming up this hour. the art of the megadeal. donald trump scoring a $50 billion investment in the u.s. that could create 50,000 jobs. we're going to tell you who is writing that monsterhe

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